Fuel-Efficiency Drives Toyota Gains

Even as U.S. gasoline prices trickled downward in August, auto buyers continued shunning big trucks in favor of more fuel-efficient vehicles.

The shift gave Toyota Motor Corp. its 15th straight month of year-over-year growth on the strength of its fuel-sipping fleet of small cars and utility vehicles, including gasoline-electric hybrids, industry data released Friday showed.

Toyota surpassed Ford Motor Co. to become the nation’s No. 2 car company in sales for the second straight month. It edged out Ford by just under 2,500 vehicles for a 16.1% share of the U.S. market in August, compared with 16% for its venerable American rival.

Toyota’s 17% gain was the biggest among the top 10 automakers. It was followed by Hyundai Motor Co. of South Korea, which rose 6%; Hyundai affiliate Kia Motors Corp., 5.4%; and market leader General Motors Corp., 3.8%.

LA Times